August 24, 2018 / 12:29 PM / a month ago

BUZZ-Spectra Energy: Up on Enbridge's higher buyout offer, with premium

** Spectra Energy Partners up 3 pct at $39 premarket vs. raised buyout offer worth $40/shr from Enbridge Inc

** Canada’s Enbridge had offered to buy its U.S. MLP in an all-stock offer on May 17, worth $33.10 at that time

** That offer was without a premium, while the latest all-stock offer is at a 5.7 pct premium to Spectra’s Thursday close

** Up to Thursday, Spectra has gained 14.4 pct since the offer and Enbridge’s U.S.-listed shares rose ~10 pct

** ENB down 1.6 pct premarket

** ENB deal is part of a restructuring among pipeline firms, incl Williams and Cheniere Energy, after a U.S. rule change removed a key tax benefit for their publicly traded partnerships (Reporting by Savio D’Souza)

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